Nonpayment Default definition

Nonpayment Default shall have the meaning specified in Section 15.4(b).

Nonpayment Default shall have the meaning specified in Section 13.02.

Nonpayment Default. The term "Nonpayment Default" shall have the meaning specified in Section 15.4(b).

Examples of Nonpayment Default in a sentence

• No Non-payment Default with respect to any Designated Senior Indebtedness that existed or was continuing on the date of the commencement of any Payment Blockage Period will be, or can be, made the basis for the commencement of a second Payment Blockage Period, whether or not within a period of 365 consecutive days, unless such default has been cured or waived for a period of not less than 90 consecutive days.

• No Non-payment Default with respect to Designated Senior Indebtedness which existed or was continuing on the date of the commencement of any Payment Blockage Period will be, or can be, made the basis for the commencement of a second Payment Blockage Period, whether or not within a period of 365 consecutive days, unless such default shall have been cured or waived for a period of not less than 90 consecutive days.

• No Non-payment Default with respect to Designated Senior Indebtedness that existed or was continuing on the date of the commencement of any Payment Blockage Period shall be, or can be, made the basis for the commencement of a second Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such default has been cured or waived for a period of not less than 90 consecutive days.

• The PECAP applies to all faculty members who occupy bargaining unit positions under the CBA.

• Payments on the Notes may and shall be resumed (i) in the case of a Payment Default, upon the date on which such default is cured or waived, or (ii) in the case of a Nonpayment Default, 179 days after the date on which the applicable Payment Blockage Notice is received, unless the maturity of any Senior Indebtedness has been accelerated.

More Definitions of Nonpayment Default

Nonpayment Default has the meaning set forth in Section 18.01(b)(ii).

Nonpayment Default shall have the meaning as defined under Section 6.02(b).

Nonpayment Default shall have the meaning assigned to such term in Section 8.03.

Nonpayment Default means any event of default under the terms of any instrument governing any Senior Indebtedness permitting one or more holders of such Senior Indebtedness (or a Representative on behalf of the holders thereof) to declare all or part of such Senior Indebtedness due and payable prior to the date on which it would otherwise become due and payable.

Nonpayment Default shall have the meaning specified in Section 2.10(d)(ii).

Nonpayment Default. The term “Nonpayment Default” shall have the meaning specified in Section 15.4(b).

Nonpayment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.